Japanese Candlesticks Analysis
Japanese candlesticks analysis is one of the classic tools for analyzing the currency market. It is believed that Japanese candlestick charts are much more informative and clearer than linear ones. That is why they are preferred by most modern investors. The most important candlestick components here are the open, the close, the high, and the low. The color of candlesticks, black or white, depends on the ration between the security price when the candlestick opened and closed.
Japanese candlesticks, unlike any other technical indicators, allow traders to analyze the behavior of the price itself, rather than the results of mathematical calculations. Below are the daily Japanese candlestick forecasts from RoboForex experts.
19.03.2020
Japanese Candlesticks Analysis 19.03.2020 (GOLD, NZDUSD, GBPUSD)
GOLD continues testing the horizontal support level; NZDUSD is forming reversal patterns not far from the support level, while GBPUSD is testing another support level.
18.03.2020
Japanese Candlesticks Analysis 18.03.2020 (EURUSD, USDJPY, EURGBP)
EURUSD is moving close to the rising channel’s downside border; USDJPY is testing the resistance level again, while EURGBP is forming another correction from the resistance level.
17.03.2020
Japanese Candlesticks Analysis 17.03.2020 (USDCAD, AUDUSD, USDCHF)
USDCAD has updated its highs once again; AUDUSD is testing another support level, while USDCHF is testing the descending channel’s upside border.
16.03.2020
Japanese Candlesticks Analysis 16.03.2020 (GOLD, NZDUSD, GBPUSD)
GOLD is testing the horizontal support level; NZDUSD is still trading near the descending channel’s downside border, while GBPUSD is testing the support level.
13.03.2020
Japanese Candlesticks Analysis 13.03.2020 (EURUSD, USDJPY, EURGBP)
EURUSD is still correcting within the rising tendency; USDJPY continues growing from the support level, while EURGBP is forming another correction from the resistance level.
12.03.2020
Japanese Candlesticks Analysis 12.03.2020 (USDCAD, AUDUSD, USDCHF)
USDCAD has updated its highs; AUDUSD continues trading downwards, while USDCHF is correcting after completing the decline.
11.03.2020
Japanese Candlesticks Analysis 11.03.2020 (GOLD, NZDUSD, GBPUSD)
GOLD continues the correction within the rising tendency; NZDUSD has returned to the descending channel, while GBPUSD is testing the descending channel’s upside border again.
10.03.2020
Japanese Candlesticks Analysis 10.03.2020 (EURUSD, USDJPY, EURGBP)
EURUSD is correcting within the rising tendency; USDJPY is correcting from the support level, while EURGBP is rebounding from the resistance level again.